V.F. (NYSE:VFC) Posts Quarterly Earnings Results

V.F. (NYSE:VFC – Get Rating) issued its earnings results on Tuesday. The textile maker reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03, Briefing.com reports. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.72 billion. V.F. had a net margin of 1.02% and a return on equity of 25.10%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. V.F. updated its FY24 guidance to $2.05-2.25 EPS.

V.F. Stock Performance

Shares of VFC traded down $0.40 during mid-day trading on Thursday, reaching $17.95. The company’s stock had a trading volume of 3,951,750 shares, compared to its average volume of 7,743,813. V.F. has a 1-year low of $17.92 and a 1-year high of $51.40. The stock has a market cap of $6.98 billion, a P/E ratio of 59.20, a PEG ratio of 2.78 and a beta of 1.44. The business has a 50-day simple moving average of $21.61 and a two-hundred day simple moving average of $26.08. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 1.39.

V.F. Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Monday, June 12th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 6.69%. V.F.’s payout ratio is 387.11%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on VFC shares. Barclays decreased their price target on shares of V.F. from $26.00 to $20.00 in a report on Thursday. Citigroup decreased their price target on shares of V.F. from $22.00 to $20.00 in a report on Wednesday. Piper Sandler started coverage on shares of V.F. in a report on Tuesday, April 25th. They issued an “overweight” rating for the company. Edward Jones raised shares of V.F. from a “hold” rating to a “buy” rating in a report on Thursday, April 13th. Finally, StockNews.com lowered shares of V.F. from a “hold” rating to a “sell” rating in a report on Saturday, May 20th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, V.F. currently has an average rating of “Hold” and an average price target of $28.42.

Insider Activity

In other news, Director Carol L. Roberts purchased 7,109 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was acquired at an average cost of $21.07 per share, with a total value of $149,786.63. Following the acquisition, the director now owns 7,109 shares in the company, valued at approximately $149,786.63. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.90% of the company’s stock.

Institutional Trading of V.F.

Hedge funds have recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in V.F. in the 1st quarter valued at $46,000. Point72 Hong Kong Ltd raised its holdings in V.F. by 106.9% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,131 shares of the textile maker’s stock valued at $64,000 after acquiring an additional 17,451 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of V.F. in the 4th quarter valued at $67,000. Money Concepts Capital Corp increased its stake in shares of V.F. by 1,224.2% in the 4th quarter. Money Concepts Capital Corp now owns 2,794 shares of the textile maker’s stock valued at $77,000 after purchasing an additional 2,583 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of V.F. by 29.2% in the 3rd quarter. CENTRAL TRUST Co now owns 5,175 shares of the textile maker’s stock valued at $154,000 after purchasing an additional 1,170 shares during the last quarter. 96.89% of the stock is owned by institutional investors and hedge funds.

V.F. Company Profile

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VF Corp. designs, produces, procures, markets and distributes lifestyle apparel, footwear and related products. It operates through the following segments: Outdoor, Active, and Work. The Outdoor segment refers to authentic outdoor-based lifestyle brands including performance-based apparel, footwear, equipment, backpacks, luggage and accessories.